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President Donald J. Trump Announces Intent to Nominate Leonard Wolfson to the Department of...
If confirmed, Leonard Wolfson of Connecticut will serve as Assistant Secretary of Housing and Urban Development. Mr. Wolfson has served as Associate Vice President of Legislative Affairs for the Mortgage Bankers Association, where he helped the real estate finance industry recover from the financial crisis by advocating for a return to safe and sustainable lending.
HUD AND CENSUS BUREAU REPORT RESIDENTIAL CONSTRUCTION ACTIVITY IN AUGUST 2017
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential construction statistics for September 2017. Building Permits: Privately owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 1,215,000.
Existing-Home Sales Inch 0.7 Percent Higher in September
After three straight monthly declines, existing-home sales slightly reversed course in September, but ongoing supply shortages and recent hurricanes muted overall activity and caused sales to fall back on an annual basis, according to the National Association of Realtors®
Mortgage Applications Increase in Latest MBA Weekly Survey
Mortgage applications increased 3.6 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending October 13, 2017. This week's results included an adjustment for the Columbus Day holiday.
Enhancements to Green Lease Leaders Raise the Building Efficiency Bar
Green Lease Leaders introduces new recognition criteria, website, and helpful resources to better shine a spotlight on innovative landlords and tenants who incorporate efficiency and sustainability into their leases and corporate best practices.
Hurricanes Push Down Housing Production in September
Nationwide housing starts fell 4.7 percent in September to a seasonally adjusted annual rate of 1.13 million units, according to newly released data from the U.S. Department of Housing and Urban Development and the Commerce Department. Nationwide single-family production fell 4.6 percent to 829,000 units due to a 15.3 percent decline in the hurricane-ravaged South. All other regions posted gains in the single-family sector, and nationwide single-family permits increased 2.4 percent
70 Percent of Realtors® Self-Initiated Real Estate Career, Identify People Skills as Most Important
The majority of Realtors® self-initiated their career in real estate and identify strong people skills as the most important trait to be a successful agent, according to the National Association of Realtors® new research report, Choosing a Career in Real Estate: A Perspective on Gender, Race and Ethnicity
Don’t Like Your Home’s Appraisal? Here’s What You Can Do
If consumers are unhappy with the appraisal of a home they’re buying or selling, they have options available to them, the president of the nation’s largest professional association of real estate appraisers said today.
GBCI Announces 2017 LEED Fellows
Green Business Certification, Inc. (GBCI) has announced its 2017 class of LEED Fellows, an annual recognition of outstanding LEED professionals. This year’s 23 LEED Fellows exemplify a diverse array of achievements and contributions to the green building community and LEED, which stands for Leadership in Energy and Environmental Design, the world’s most widely used green building rating system.
NACWA, White House Officials Discuss Infrastructure Package
NACWA held a private meeting with senior White House officials on October 12 to discuss the contours of the Administration’s planned infrastructure package, including opportunities for public clean water utilities. This followed a broader water sector meeting, hosted by the White House on October 10, in which a number of NACWA utility members participated.
Builder Confidence Rises Four Points in October
Builder confidence in the market for newly-built single-family homes rose four points to a level of 68 in October on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). This was the highest reading since May.
Habitat for Humanity to aid more than 6,000 families in Texas, Florida and Puerto...
Habitat for Humanity is commencing the long-term phase of its Habitat Hammers Backhurricane recovery initiative, pledging to help more than 6,000 families across regions impacted by hurricanes Harvey, Irma and Maria.
BOMA INTERNATIONAL RELEASES NEW OFFICE MEASUREMENT STANDARD
The Building Owners and Managers Association (BOMA) International has released the latest update to its floor measurement standard for office buildings, BOMA 2017 For Office Buildings: Standard Methods of Measurement (ANSI/BOMA Z65.1—2017). This updated publication is designed to reflect changes within the commercial real estate industry since the release of the prior edition of the standard in 2010.
NeighborWorks America trains community leaders and honors local heroes
On Oct. 13, NeighborWorks America presented six individuals with its annual Dorothy Richardson Award for Resident Leadership. The award recognizes outstanding contributions by community leaders. The recognition occurred during the NeighborWorks Community Leadership Institute, which strengthens the skills of residents and provides seed grants to help them execute action plans when they return home.
New Report Shows That the Mortgage Interest Deduction is One of the Drivers of...
The National Low Income Housing Coalition (NLIHC) and the Institute on Assets and Social Policy (IASP) at Brandeis University’s Heller School released today a report, “Misdirected Investments: How the Mortgage Interest Deduction Drives Inequality and the Racial Wealth Gap.” The report shows that while African Americans and Hispanics each account for 13% of the nation’s households, they receive only 6% and 7% of the tax benefits from the mortgage interest deduction (MID). White households receive nearly 78% of the deduction’s benefits.
ABC CEO Mike Bellaman Appointed to Task Force on Apprenticeship Expansion for all Americans
Michael D. Bellaman, president and CEO of Associated Builders and Contractors (ABC), has been appointed by U.S. Department of Labor Secretary R. Alexander Acosta to the Task Force on Apprenticeship Expansion, created by President Trump’s June 15 Executive Order 13801.
Onshore Energy Bill Draws Praise as Subcommitte Continues Broad Overhaul of Federal Lands Energy...
The Subcommittee on Energy and Mineral Resources heard testimony on a discussion draft of the “Opportunities for the Nation and States to Harness Onshore Resources Act” or “ONSHORE Act.” The bill allows states with established regulatory programs to seek primacy for the implementation of federal permitting responsibilities for oil and gas development on federal lands
NAHB Announces Finalists for Apartment and Condo Awards
Adaptive reuse, plentiful amenities and sustainable and green building practices were some of the trademarks found in this year’s finalists for the 2017 Multifamily Pillars of the Industry Awards, which honor superior achievement in apartment and condominium development, design, marketing and management and are sponsored by the National Association of Home Builders (NAHB).
Panel: Bipartisan Bills Enhance ESA Protections, Boost Hydropower Reliability
The Subcommittee on Water, Power and Oceans held a legislative hearing on H.R. 3144 (Rep. Cathy McMorris Rodgers, R-WA) and H.R. 3916 (Rep. Ken Calvert, R-CA), the “Federally Integrated Species Health Act” or “FISH Act,” bills to improve the recovery of Endangered Species Act (ESA) listed fish while providing certainty for water and power users.
Statement from NAHB First Vice Chairman Randy Noel on President Trump’s Executive Order on...
Randy Noel, first vice chairman of the National Association of Home Builders (NAHB) and a home builder and developer from LaPlace, La., attended today’s White House signing ceremony and issued the following statement regarding President Trump’s executive order on health care
Norton Pushes for Federal Financial Incentives for Localities like D.C. that Use Local Dollars...
Congresswoman Eleanor Holmes Norton (D-DC), ranking member of the House Highways and Transit Subcommittee, yesterday at a subcommittee hearing on building a 21st century infrastructure asked key stakeholders about increasing incentives for state and local governments, such as the District of Columbia, that move ahead on infrastructure projects without always waiting for full federal transportation and infrastructure funding.
VA, Ginnie Mae Create Task Force to Address Mortgage Refinancing Issues
The Government National Mortgage Association (Ginnie Mae) and the Department of Veterans Affairs (VA) announce the formation of the “Joint Ginnie Mae – VA Refinance Loan Task Force.”
Ginnie Mae Issues Guidance for Disaster Pass-Through Assistance and Delinquency Ratio Exemptions for Qualifying...
Ginnie Mae issued an All Participants Memorandum (APM) – APM 17-04 to Single-Family Issuers providing updates and further guidance on the availability of optional, special assistance for Hurricanes Harvey, Irma or Maria including associated eligibility requirements and the application process.
NeighborWorks lending efforts get boost from more than $18 million in CDFI funds
Twenty-five NeighborWorks organizations around the country have received more than $18 million as part of grants from the U.S. Department of the Treasury’s Community Development Financial Institution (CDFI) program. Combined with grants from the Neighborhood Reinvestment Corp. (dba NeighborWorks America), local governments, foundations and the private sector, the funds will allow these small- and medium-sized nonprofit businesses to continue to provide affordable loan products and services to low- and moderate-income borrowers.
September New Home Purchase Mortgage Applications Decreased 7.5 Percent Year over Year
The Mortgage Bankers Association (MBA) Builder Applications Survey (BAS) data for September 2017 shows mortgage applications for new home purchases decreased 7.5 percent compared to September 2016. Compared to August 2017, applications decreased by 20 percent relative to the previous month. This change does not include any adjustment for typical seasonal patterns.
40 years later, CRA remains a powerful tool to ensure banks do business with...
I grew up in Boston in the 1960’s, in public housing, across the street from a full-service bank branch. The bank was critical to the neighborhood until bank executives in downtown-Boston decided to discriminate against poor and working-class whites and racial minorities. Known as “redlining,” banks condemned whole neighborhoods and refused to make loans to people who lived there regardless of their credit worthiness
VA, Ginnie Mae Create Task Force to Address Mortgage Refinancing Issue
The Government National Mortgage Association (Ginnie Mae) and the Department of Veterans Affairs (VA) announced the formation of the Joint Ginnie Mae – VA Refinance Loan Task Force.
Chairman Hensarling Delivers Opening Statement at Hearing on HUD
Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement at today’s hearing with Housing and Urban Development Secretary Ben Carson: Today we welcome the 17th Secretary of the Department of Housing and Urban Development, Dr. Ben Carson for his first appearance before our committee
ConsensusDocs Publishes New O&M Agreement
Today, ConsensusDocs is announcing the release of a new industry standard agreement for operations and maintenance. The ConsensusDocs 910 Standard Operations and Maintenance (O&M) Agreement is the first agreement that ConsensusDocs has published that focuses on construction work services that take place after substantial completion.
Real Estate Economists Expect Continued Moderate Growth for the Commercial Real Estate Industry Through...
The U.S. commercial real estate industry is, in general, expected to experience moderated growth through much of 2019, according to a new three-year economic forecast from the Urban Land Institute (ULI) Center for Capital Markets and Real Estate.
